MoonPay has acquired Israeli crypto security startup Sodot for approximately $100 million in an all-stock deal. This acquisition is part of MoonPay's strategy to build a new division focused on institutional digital asset services.
The new unit, MoonPay Institutional, will offer traditional financial firms access to crypto and blockchain services, including trading, tokenized securities, payments, wallet services, and stablecoin issuance.
Caroline Pham, who joined MoonPay in December after serving as acting chair of the Commodity Futures Trading Commission, will lead MoonPay Institutional. She cited growing regulatory clarity and improved blockchain reliability as key drivers increasing institutional confidence in decentralized finance.